Carnegie International Subsidiary ACC Telecom to Open Office to Serve Washington, D.C., Northern Virginia.

HUNT VALLEY, Md.--(BUSINESS WIRE)--Nov. 23, 1998--Carnegie International Corporation (OTC BB:CAGI) announced today that its ACC Telecom subsidiary will open an office in February in Fairfax, Virginia, to focus on business and government customers in Northern Virginia and Washington, D.C.

Acquired by Carnegie in May, ACC Telecom is headquartered in Columbia in suburban Baltimore, and is a leading reseller of equipment and business telephone systems from Comdial (NASDAQ: CMDL), SONY(R) (NYSE: SNE), Bell South (NYSE: BLS) and Sprint(R) (NYSE: FON).

Barry Hunt, ACC's president and a member of Carnegie's Board, said the new office "will be strategically located in Fairfax County, the heart of Northern Virginia's booming business center, including Arlington, Fairfax, Herndon, McLean and Tyson's Corner, and just outside Washington." He said the new office is expected to generate "an additional $2 million in 1999 sales" to ACC and will have a staff of approximately 11 sales and technical support professionals. ACC currently has a client base of more than 450 business and government customers in the Northern Virginia area and an overall customer base of some 4,000. In 1997, it had sales exceeding $3.5 million.

ACC is the No. 2 commercial Comdial dealer in the U.S. and a member of its prestigious Platinum dealer program. Carnegie also has an agreement to acquire TeleResources, Inc., of Oak Park, Illinois, the No.1 Comdial dealer with more than 6,000 customers and $4 million in 1997 revenues.

Carnegie International Corporation (OTC: BB CAGI) is a holding company specializing in telephony and telecommunications products, services and distribution. Its MAVIS(tm) (Multi-Language Automated Voice Independent System) is a breakthrough in speech recognition-driven automated attendant/ voice mail systems, using proprietary IVR (interactive voice response) software to recognize/respond to callers. The entirely voice-driven MAVIS interface is available in English and all foreign languages supported through licensed Lernout & Hauspie (NASDAQ: LHSPF) software, and supports Dialogic (NASDAQ: DLGC) CPU telephony cards. Carnegie's primary wholly-owned subsidiaries include: Profit Through Telecommunications (Europe) Ltd. (PTT), a telecommunications software company providing business solutions utilizing proprietary speech recognition, touch tone and bar code responses to send and/or receive information; Talidan, a reseller marketing telephone time and information at discounted rates in Europe, South America, and other emerging markets, and ACC Telecom of Columbia, Maryland, a leading reseller of equipment and business telephone systems from Comdial (NASDAQ: CMDL), SONY(R) (NYSE: SNE), Bell South (NYSE: BLS) and Sprint(R) (NYSE: FON). For the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of $6.9 million and after-tax basic earnings per share of $0.07.

Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made or to be made by Carnegie International Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated direction of the telecommunications industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Carnegie International Corporation. These risks and uncertainties included, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws, and market competition factors.

MAVIS is a trademark of Carnegie International Corporation. Other trademarks are properties of their respective owners.